B. Riley Reiterates “Buy” Rating for Cherry Hill Mortgage Investment (NYSE:CHMI)

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B. Riley reaffirmed their buy rating on shares of Cherry Hill Mortgage Investment (NYSE:CHMI) in a research report released on Wednesday, TipRanks reports. B. Riley currently has a $15.00 target price on the real estate investment trust’s stock.

Several other research firms have also recently issued reports on CHMI. JMP Securities cut their price objective on shares of Cherry Hill Mortgage Investment from $20.00 to $16.00 and set a market outperform rating for the company in a research report on Thursday, September 5th. Zacks Investment Research upgraded shares of Cherry Hill Mortgage Investment from a strong sell rating to a hold rating in a research report on Wednesday, October 23rd. Finally, ValuEngine upgraded shares of Cherry Hill Mortgage Investment from a sell rating to a hold rating in a research report on Wednesday, October 2nd. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $17.50.

Cherry Hill Mortgage Investment stock traded up $0.27 during midday trading on Wednesday, hitting $14.52. 331,205 shares of the stock were exchanged, compared to its average volume of 150,082. Cherry Hill Mortgage Investment has a fifty-two week low of $11.81 and a fifty-two week high of $19.35. The stock has a market capitalization of $240.78 million, a price-to-earnings ratio of 6.51 and a beta of 0.44. The stock’s 50-day simple moving average is $13.32 and its 200 day simple moving average is $14.81.

The company also recently disclosed a 0.49000 dividend, which was paid on Tuesday, October 29th. Investors of record on Monday, September 30th were given a dividend of $0.40 per share. This represents a yield of 15.4%. The ex-dividend date was Friday, September 27th. Cherry Hill Mortgage Investment’s payout ratio is currently 71.11%.

Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in Cherry Hill Mortgage Investment by 18.9% during the second quarter. BlackRock Inc. now owns 1,668,628 shares of the real estate investment trust’s stock worth $26,699,000 after buying an additional 265,591 shares during the period. Vanguard Group Inc. boosted its stake in Cherry Hill Mortgage Investment by 17.4% during the second quarter. Vanguard Group Inc. now owns 984,661 shares of the real estate investment trust’s stock worth $15,755,000 after buying an additional 145,809 shares during the period. Northern Trust Corp boosted its stake in Cherry Hill Mortgage Investment by 2.4% during the second quarter. Northern Trust Corp now owns 188,249 shares of the real estate investment trust’s stock worth $3,012,000 after buying an additional 4,326 shares during the period. California Public Employees Retirement System boosted its stake in Cherry Hill Mortgage Investment by 5.0% during the third quarter. California Public Employees Retirement System now owns 119,935 shares of the real estate investment trust’s stock worth $1,571,000 after buying an additional 5,659 shares during the period. Finally, Invesco Ltd. boosted its stake in Cherry Hill Mortgage Investment by 1.5% during the second quarter. Invesco Ltd. now owns 60,146 shares of the real estate investment trust’s stock worth $963,000 after buying an additional 901 shares during the period. Hedge funds and other institutional investors own 53.68% of the company’s stock.

About Cherry Hill Mortgage Investment

Cherry Hill Mortgage Investment Corporation, a residential real estate finance company, acquires, invests in, and manages residential mortgage assets in the United States. The company operates through Investments in RMBS and Investments in Servicing Related Assets segments. It manages a portfolio of servicing related assets, residential mortgage-backed securities (RMBS), and prime residential mortgage loans, as well as other residential mortgage assets.

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